Forum Replies Created
A lot of Advisers are Salesmen who know the value of a trailing commision, the Industry seems to be trying to clean itself up and I’m sure there are good and maybe even great ones out there..good luck
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorAny other Fun Sites?
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI also use http://www.excelaustralia.com.au software to track IP’s
Prior to this it was just playing around with excel and input from other investors
Check out Julia’s site bantacs as well for some great info..
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI’d agree that placing your current PPoR into a HDT and keeping it as your PPoR may cause problems..acquiring other properties in the HDT would be worthwhile IMO though
You need to look at your personal situation and what your personal goals are..take everyones postson board but absorb what is useful, consider the contrary opinions and discard the rubbish
Cata is well placed to give you some input on Asset Protection and your risk re: chances of litigation. He can also explain the many and varied ways of protecting your assets (he’s given me a lot of great feedback as well)
you may also want to consider the wealth creation as well as the asset protection benefits of various structures.
Good luck with your strategy
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorAs Amanda says , that summary is a great start for an Excel spreadsheet, we also keep seperate files for each IP
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI agree with some of what you say HB..”make haste slowly” as they say…
However, I also believe in the power of leverage and Other Peoples Money, If I had to wait until I saved the cash to get to where I am today I wouldn’t be here.
I agree with a degree of caution and ensure I have cash reserves as a back up (I could take a year or so off and still pay the mortgages), my loans are Fixed Interest- Interest Only (why would I want to pay off the principal at this stage as it benefits me not) my current LVRs are decreasing with great CG of late, rents are rising , I’m looking at other opportunities, but I still try and have emergency funds.
Mitchys $40k equity is not much, but its a start and at least she’s looking at her options (she did say they have a fair bit of debt which they are consolidating- a concern) IMHO I’d reduce personal debt quickly and learn about good debt and bad debt.
Thats the great thing about the forum; many and varied responses from people with different backgrounds, experiences and knowledge- and the reason why I keep coming back to it and learning
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorMaybe look at Rick Ottons site or contact him?
QLD’s 007 may be able to assist
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorNo free lunches that I know off?
Some may give you a snapshot though..
Try homepriceguide
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculatorhttp://www.amitybungalows.com.au/forsale1.htm
http://www.beechworth.com/barnardst/
Couldn’t find much on Bungalows?
PS- Granny Flats are out; they are now called Self Contained Units I’m told by my sister who wouldn’t think of renting a “GrannY” flat
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorInvesting in and renting the property you own sounds even better
Has its pro’s and con’s but if your a buy and hold person….
;O)
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorFrom memory the La Grange or Lombadina Community (WA North West)used to own a Bankwest building plus a few rental complex’s in a booming tourist town
They also had a thriving watermelon farm with product sent to Perth and evryone was employed under CDEP
Think they had a smart accountant and were doing very well…
I believe the Government was looking at a rent to own scheme with some communities as well, they were also looking at assisting homeswest tenants with buying thier properties in a JV
Other than being to several communities dont know much more
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorOriginally posted by shaunwalker:mines going crap [angry2]
business partner stole 500k and spent it at the casino, then sold off all the assets to hide it. i didnt find out for 6 months.
after selling everything i own (houses etc) i’m now minus 74k in debt [cigar]
i built a business before i can do it again.
just trying to get a higher paying job at present so i can save/borrow for the next year or so then do it all again
the funny thing is, all my friends are saying why bother?
and i reply that i can do it, and will do it no matter what
cheers all
shaunLead, Follow or get out of the bloody way
Geez Shaun…
I was just reading your story in a book the other day and thinking “Great..Good on him he’s doing well” !!!
Hope it all picks up for you again; keep us posted.
Good luck
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI’d use a HDT for IP’s and Shares to reduce tax..
I was going to say..you could’ve got burnt buying something like Sons of Gwalia(Mining) and lost out big time..but reconsidered, as I did buy them and sold at a profit prior to thier fall from grace some time back..
I like shares as well, but have a low risk tolerance I believe when it comes to shares ;o)enjoy playing but not too happy losing
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculatorhi hb
From memory Loan was 100%, so none of our money apart from deposit..
Point taken re Shares, I sold out of MGX, REA, ZFX, ETR, PCG and a few others as triggers were fired some months back, I could’ve set profit stops but we wanted another Property (our preference)
Now thats all settled the goal is to leverage $100k into shares (80% so $80k) for Income this year and Purchase another IP (20% so $20k)
Appraisal came in for IP 4 (last one purchased)at $325k (up from $290k)Goal is to look at values, top up loans and access equity to move forward in 2006
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorCity of Swan- Any tips
RedHill and Bayswater
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorAnother reason why so many people are starting to sell privately as well..
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorIts going Great GR
Appraisals on IP’s coming in showing great CG, rents due to rise..over 1/2 way to my main 2006 goal and January isn’t even over !!
Serviceability still a problem, though I’ve had a job offer of which would mean $23k p/a extra (about $440 per week) problem is its dealing with problems and means less family time..something to ponder
As I said..all great so far
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorExactly prior to the resource boom Kalgoorlie was a town with a declining population (still dont think its much chop) However, I know people who have bought there over the last year or two for the cashflow and have been pleasantly surprised with the CG as well..(one has sold his IP’s a couple of days ago and putting money into spec homes into WA CG Zones)
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorOriginally posted by bindin46:Can anyone help with this problem? My mother-in-law some years ago was renting council property that came up for sale at a discounted price, I took out a second mortgage on my house to purchase the discounted property in her name (to get the discount.) Now, how can I get the property in my name without having to pay the stamp duty Short Term Answer, I dont think you can?. The property is in her will and should come to me without any problems when she dies, but this might take 20 years and I would like to develop this triplex block before I retire.
1, Can my name be added to the title so I can develop the property
now?Yes, speak to DOLI re Costs…Once developed though then what? Think about taxes etc and look at the best structure for your goals……2, If the will takes effect – will there be any costs?
3, Can I develop without it being in my name?
Any help would be appreciated.
Regards
Steve
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorKeep us posted..
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculator
